Actually, I think I'd prefer single shot too. Wierd how I would defend that
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A .308 does have more penetration, but who shoots through walls all that often anyway? A .223 can pierce soft body armor and the likes pretty easily, as can a .308. A .223 shatters and tumbles when it hits human tissue, so kinetic energy is maintained. It may be a .22 bullet moving at the speed of sound, but it has some punch to it.
Maybe you don't mind weight, but after a while my Garand gets a little too weighty more my taste.
I'm a recoil person. I prefer weapons with less recoil, and .223 fits that bill WAY better for me. The bigger it gets, the more chance I have of pulling a shot. A .308 is like a short .30-06, which can kick pretty decent. Heavy guns like Garands make this recoil less painful, but 4 pound Remington 700s are a different story.
It is clear that you prefer M14s, and I prefer both (but I'm sticking up for the ARs!), so no point in debating much further with this...